Built Technologies raises $125 million

Built Technologies, “the fastest growing construction finance platform in the U.S.,” announced $125 million in Series D funding at a valuation of $1.5 billion. Lead investor TCV, along with Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital, and HighSage Ventures, will join existing investors in the Nashville-based company.

Founded in 2014, Built connects commercial and consumer construction lenders, commercial real estate developers, commercial general contractors, residential homebuilders, specialty contractors, title companies, and other industry participants to improve the flow of capital through the construction ecosystem.

We recently reported that the company is looking to build an insurance offering and with the funding announcement, Built is making it official. “For commercial and residential owners, developers, and construction professionals, Built is actively developing new solutions – like compliance tracking, AP/AR automation tools, payment management and insurance services.” Specifically, the new funding will be used to build an insurance brokerage among other things.

“As a result of our continued growth and commitment to the construction industry and the capital providers fueling it, we have experienced a significant amount of demand from the investor community. As a leading platform focused on modernizing money movement and improving financial outcomes in construction, we are excited to use this investment from TCV and others to extend our capabilities and drive an even bigger impact.” – Chase Gilbert, CEO at Built.

“Built has achieved broad market penetration in the notoriously tough construction finance space, because they are answering critical unmet needs in the market. TCV partners with aspiring category leaders, and we are confident that Built will take its place among other innovative companies who have disrupted major markets.” – Woody Marshall, lead investor at TCV and Built’s newest board member.